Sell smart, and you might just survive
Amazon’s dominance in the eCommerce world is unmatched, and they’re not going anywhere anytime soon.
They are convenient for buyers, which makes them a convenient and enticing marketplace for sellers, too. The problem is that Amazon is continuing to cut into retailer’s sales. Fees aren’t the only issue or even the worst.
AmazonBasics is literally copying and pasting your products, while also offering better pricing and terms to consumers.
It’s already happening in far-flung categories like patio furniture and printer paper. The solution is to diversify. Use Amazon for what they’re good at, like getting you extra attention and instant feedback.
But you should also be exploring other niche marketplaces, going directly to the consumer by building out your own pipeline, using incentives to get people to buy direct, and even setting certain limits on these competitive marketplaces.
Weaning yourself off Amazon’s power isn’t easy. It won’t happen overnight. But in the long run, it will be one of the best bets you have for a profitable, sustainable future.
So, to recap:
- Work with other niche marketplaces.
- Build your database and list. Remember the money is in the list.
- Give people a reason to shop on your site. Have a think about different ways visitors can get unique experiences and values if they shop on your site.
- Limit products on a competitive marketplace platform. Use Amazon (and the likes) as a testing ground and have a HARD minimum advertised price.